Your professor loves his work, teaching economics. He has been offered other positions in the corporate world that would increase his monetary income by as much as 25 percent, but he has decided to continue working as a professor. His decision to continue teaching rather than taking other positions would not change unless
a. the marginal cost of teaching increased above the marginal benefit.
b. the marginal benefit of teaching increased above the marginal cost.
c. the marginal cost of teaching decreased.
d. the marginal benefit of a corporate job decreased.
b. the marginal benefit of teaching increased above the marginal cost.
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What brought about the end of the Bretton Woods Agreement?
What will be an ideal response?
When the money market is drawn with the value of money on the vertical axis, if the value of money is above the equilibrium level,
a. the price level will rise. b. the value of money will rise. c. money demand will shift leftward. d. money demand will shift rightward.
?"I don't feel so good; I shouldn't have had that last doughnut." Which of the following supports this statement?
a. ?The marginal utility of doughnuts is still increasing. b. ?The total utility from eating doughnuts is negative. c. ?The marginal utility of the last doughnut was positive. d. ?The marginal utility of the next doughnut will be positive. e. ?The marginal utility of the last doughnut was negative.
Last week, six Swedish kronor could purchase one U.S. dollar. This week, it takes eight Swedish kronor to purchase one U.S. dollar. This change in the value of the dollar will ________ exports from the United States to Sweden and ________ U.S. aggregate
demand. A) increase; increase B) decrease; decrease C) increase; decrease D) decrease; increase